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Question: The IRDA stands for

Options:

  1.  Insurance Regulatory and Development Activity.
  2.  Insurance Reconstruction and Development Activity.
  3.  Insurance Regulatory and Development Authority.
  4.  Insurance Regulatory and Department Activity.

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3. Insurance Regulatory and Development Authority.

The IRDA stands for Insurance Regulatory and Development Authority.


More info:

IRDA (Insurance Regulatory Development Authority) is a regulatory body created with the aim of protecting the interests/rights of insurance holder (customer).

Main function/mission of IRDA:

  • to protect the interests of the policyholders
  • to regulate, promote and ensure orderly growth of the insurance industry and for matters connected therewith or incidental thereto
IRDA Functions

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